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Technical

Leases: Mastering the New FASB Requirements Logo aicpa

  Daryl G. Krause, CPA |   $155.00 - 195.00 |   CPE: 8.0 |   AICPA |   Jun 2019 |   Accounting |   AICPA Store
Master the latest FASB requirements.
Who Will Benefit?
  • Accountants in practice and industry
Key Topics
  • Lease classification
  • Amortization of the lease asset
  • Derecognition of the underlying asset
  • Recognition of lease receivables
Learning Objectives
  • Identify a lease under the new leases standard.
  • Identify recognition and measurement requirements of the new leases standard.
  • Identify presentation and disclosure requirements of the new leases standard.
  • Prepare journal entries.

FASB ASC 842 requires organizations to recognize lease assets and liabilities on the balance sheet and to disclose key information about lease arrangements.

This self-study course provides an in-depth look at the new leases standard, FASB ASC 842, covering identification, recognition, measurement, and presentation and disclosure requirements.

Both the lessee and lessor accounting models, as well as short-term leases, purchase options, variable lease payments, and sale and leaseback transactions are addressed. Also included is a chapter that examines the differences between FASB ASU No. 2016-02 and IFRS 16.

Updates in 2019

This 2019 edition includes lease amortization schedules to illustrate existing examples of a lessee's accounting for finance and operating leases, as well as lease modifications. Other changes for 2019 include conforming updates in response to FASB's issuance of ASU No. 2018-11, which amended requirements for transition and separating components of a contract.

Topics covered:
  • Financial accounting & reporting: Technical: FASB financial accounting & reporting: Leases, Foundational

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